32-Unit Multifamily Value-Add
1570 North Street Santa Rosa, CA 95404
1570 North Street, Santa Rosa, CA, 95404
$8,900,000
For Sale
$8,900,000
32-unit multifamily community on 1.14 acres with recent capital improvements, on-site parking, and a swimming pool.
Property Size31,600 SF
Lot Size1.14 Acres
Price / SF$281.65
Days on Market102
Property Features for 1570 North Street
General Information
- Standard status
- Active
- Size
- 31,600 SF
- Lot size
- 1.14 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1960
Listing agency
CBRE, Inc.
(408) 453-7400
Listed by
Adam Foley · License #02144332
Source
Xome
Added: Apr 12 Updated: Jul 22 at 10:12AM Checked: Jul 22 at 10:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE, Inc.
Investment Insights
Based on property information with market context.
North Street Apartments is a 32-unit value-add multifamily community in Santa Rosa. Built in 1970 on 1.14 acres, the property features a unit mix dominated by 2BR layouts, with an average unit size reported at 988 SF. Recent capital improvements include reroofing, exterior painting, asphalt work, pool updates, lighting, and landscaping. The community also offers a pool and on-site parking.
The property is located in a quiet residential area near Santa Rosa Junior College, Downtown Santa Rosa, and Highway 101. An existing 30% RUBS program is noted in the public remarks, and in-place occupancy is reported at approximately 97%.
Recent improvement efforts are paired with a described renovation plan that targets additional rent growth in a portion of the remaining units through interior upgrades, including laminate flooring, kitchen and bath finishes, and in-unit washer and dryer installation.
The property is located in a quiet residential area near Santa Rosa Junior College, Downtown Santa Rosa, and Highway 101. An existing 30% RUBS program is noted in the public remarks, and in-place occupancy is reported at approximately 97%.
Recent improvement efforts are paired with a described renovation plan that targets additional rent growth in a portion of the remaining units through interior upgrades, including laminate flooring, kitchen and bath finishes, and in-unit washer and dryer installation.
Key Highlights
- 32‑unit multifamily community on 1.14 acres in Santa Rosa
- 2BR‑dominated unit mix averaging 988 SF and 97% occupancy
- In‑place rents average $2,384 with $94/unit immediate mark‑to‑market upside
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.05M | $33.36 |
| − Vacancy | −$50.6k | −$1.60 |
| EGI | $1.00M | $31.76 |
| − OpEx | −$451.6k | −$14.29 |
| NOI | $552.0k | $17.47 |
31,600 SF · lease $33.36/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.89M
$6.90M – $9.20M
NOI $551,967 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$8.78M
$7.68M – $10.24M
NOI $614,560 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
North Street Apartments
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 32-unit multifamily community on 1.14 acres with recent capital improvements, on-site parking, and a swimming pool.
Where is this apartment building located?
The property is located at 1570 North Street Santa Rosa, CA.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: 32‑unit multifamily community on 1.14 acres in Santa Rosa; 2BR‑dominated unit mix averaging 988 SF and 97% occupancy; In‑place rents average $2,384 with $94/unit immediate mark‑to‑market upside
